China’s Conveyor Belt Industry Trends in 2024: Market Growth, Smart Upgrades, and Policy Support
In 2024, China’s conveyor belt industry continues to grow steadily, with market demand maintaining a stable upward trend. According to relevant statistics, China’s conveyor belt market size exceeded 30 billion yuan in 2023, with a year-on-year growth rate of 4.26% and a compound annual growth rate (CAGR) of 1.53% from 2019 to 2023. This growth is primarily driven by the acceleration of national industrialization and large-scale infrastructure investments. In addition, the rapid development of the logistics sector and the advancement of intelligent manufacturing have further contributed to the expansion of the conveyor belt industry. As a key component of material transportation systems, conveyor belts play a vital role in industrial production, mining operations, and port logistics, with an increasing market demand.
From a product classification perspective, conveyor belts can be divided into two main categories: heavy-duty and light-duty conveyor belts. Heavy-duty conveyor belts, mainly made of rubber, offer high wear resistance and tensile strength, making them widely used in steel, coal mining, cement, and power industries, as well as infrastructure construction. Light-duty conveyor belts, primarily composed of polymer materials such as PVC and PU, are commonly used in the food processing, electronics, and pharmaceutical industries. With the rapid development of downstream industries, the demand for conveyor belts is steadily increasing. Statistics show that China’s conveyor belt production reached approximately 724 million square meters in 2023, a 3.28% year-on-year increase, highlighting the industry’s steady growth.
From a policy perspective, the adoption of intelligent conveyor belts has received strong government support, entering a period of rapid development. Specifically, the application of smart conveyor systems in mining, ports, and smart factories has been expanding. In March 2020, China’s National Development and Reform Commission (NDRC), along with eight other government departments, issued the "Guiding Opinions on Accelerating the Development of Intelligent Coal Mines," setting a goal for open-pit coal mines to achieve intelligent continuous operations and unmanned transportation by 2025. This policy provides strong support for the intelligent transformation of the conveyor belt industry, encouraging companies to accelerate research and application of smart conveyor belt technologies, including real-time monitoring, remote control, and AI-driven fault prediction, creating new growth opportunities for the industry.
Overall, with strong government support and steady growth in downstream industries, China’s conveyor belt industry is expected to maintain a positive development trend in the coming years. Companies in this sector should seize the opportunity to enhance product quality, optimize production processes, and drive the advancement of smart and environmentally friendly manufacturing, ensuring they adapt to market changes and challenges while achieving high-quality growth.